[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 7 Introduced in House (IH)]







104th CONGRESS
  1st Session
                               H. J. Res. 7

Proposing a balanced budget amendment to the Constitution of the United 
                                States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 1995

    Mr. Archer introduced the following joint resolution; which was 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                            JOINT RESOLUTION


 
Proposing a balanced budget amendment to the Constitution of the United 
                                States.

    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled (two-thirds of each House 
concurring therein), That the following article is proposed as an 
amendment to the Constitution of the United States, which shall be 
valid to all intents and purposes as part of the Constitution when 
ratified by the legislatures of three-fourths of the several States 
within seven years after the date of its submission for ratification:

                              ``Article --

    ``Section 1. Prior to each fiscal year, Congress shall, by law, 
adopt a statement of receipts and outlays for such fiscal year in which 
total outlays are not greater than total receipts. Congress may, by 
law, amend that statement provided revised outlays are not greater than 
revised receipts. Congress may provide in that statement for a specific 
excess of outlays over receipts by a vote directed solely to that 
subject in which two-thirds of each House agree to such excess. 
Congress and the President shall ensure that actual outlays do not 
exceed the outlays set forth in such statement.
    ``Section 2. Total receipts shall include all receipts of the 
United States except those derived from borrowing and total outlays 
shall include all outlays of the United States except those for the 
repayment of debt principal.
    ``Section 3. The amount of Federal public debt as of the first day 
of the second fiscal year beginning after the ratification of this 
Article shall become a permanent limit on such debt and there shall be 
no increase in such amount unless two-thirds of each House shall have 
passed a bill approving such increase and such bill shall become law.
    ``Section 4. Congress may waive the provisions of this Article for 
any fiscal year in which a declaration of war is in effect. The 
provisions of this Article may be waived for any fiscal year in which 
the United States faces an imminent and serious military threat to 
national security and is so declared by a joint resolution, adopted by 
a majority of the whole number of each House, which becomes law.
    ``Section  5. This Article shall take effect for the fiscal year 
2002 or for the second fiscal year beginning after its ratification, 
whichever is later.''.
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